tv Lou Dobbs Tonight FOX Business February 7, 2014 7:00pm-8:01pm EST
that's it for the "the willis report." have a great night! we'll see you next week at the different time. don't forget! ♪ good evening, everybody. the cumulative weight of the numerous negative obamacare reports out this week taking the toll on the white house, apparently. the diminishing party and the liberal national media as well. democrats in straight up denial of the findings and the friends in the national lib are a media ignoring the facts. including a dishonest shot at yours truly by comedy central john stewart. we're taking all of that up here tonight. also the president's political david axelrod asking democrats to not donate cash to the yet announced hillary clinton campaign for president. we'll show you why in tonight's "chalk talk."
a mediocre monthly jobs report not enough to stop a rally on wall street. a ridge rally for the dow ending the trading week. to the stop story. another independent report findings that the debilitating effect of obamacare extended. this time the negative impact on small businesses. the national small business association surveyed nearly 800 husband owners, and found that 91% of them have seen their health care cost nearly double since the implementation of obamacare. all of this in addition to the duke university school of business study that found, quote, nearly half of u.s. companies are reluctant to hire full-time employees because of the affordable care act. one in five firms indicates they are likely to hire fewer employees. a report that backed up the congressional budget office claims that obamacare will result in a reduction of nearly 2.5 million full-time workers.
and the law also gives americans a disincentive to work. the white house reaction to the cwo report was denial. house minority leader, nancy pelosi's tackic seemed to be memory loss. what is john stewart's excuse? here is the comedy central, sometimes funny man, taking shot at our reporting at lou dobbs tonight in his recurring bs mountain segment. >> the government is effectively incent vising americans to stop working. you know, like social security incent vises americans to not die at their job. [laughter] , well, hey it's nice to witness the birth of a new talking point. giving someone health care is all it takes to get people to stop showing up to work, i don't know why we don't chip and get lou dobbs some help.
lou: john was too rigorous to ignore the truth or try to avoid it. he's been living on the bs mountain for far too long, apparently. and obviously fallen off one of the slippery slope or no longer possesses the integrity to show the budget office director making the statement i was reporting. let's take a look at douglas elm doff and listen to his testimony in front of congress wednesday. >> as you know, mr. chairman, we try to our set our forecast to be in the middle of the distribution possible outcome. we think they could be higher or lower. give me a sense of 1%. we offer in appendix report rule of thumb for change in economic conditions affect the budget. these are meant to be used only roughly. but the rough estimate an increase in interest rates of interest rate being 1% higher than the entire decade increase the deficit by $1.5 trillion
over the period. and interest rates 1% lower than we project over the entire decade. lou: well, saying point-blank that there was obamacare is a disincentive for working. we're going bring you that by numerous times over the course of this show. here are some more facts for your consideration and certainly mr. stewart's. the obama economy turning in another immediate ordinary career jobs report 113,000 jobs were added added in january. far few than expecting. the overall unemployment edged down from 6.7 to 6.6%. much of the decline resulting from only 63% of working-age americans participating in the labor market creeping up from 62.8%. lowest level since 1978. we're still in a decade low.
the president, of course, trying to spend it all as positive. >> [cheering and applause] our unemployment rate is the lowest it's been since before i was first elected. the companies across the country are saying they have had to hire even more folks in the months ahead. [inaudible] it will be great for america. lou: the president in michigan to sign the farm bill. the white house invited, by the way, 50 members of congress on a bipartisan basis, of course, to the signing. only nine showed up. all of them democrat. it works out to an 18% showup rate. wall street liking what it saw in the jobs report, nonetheless, the dow closing near session highs up 166 points on the day. nasdaq up 69. the s&p up 24. 4 billion shares traded on the big board today. today's rally representing a
paper gain of $2 75 billion. for the week all three indexes moving up more than a half%. google up more than 1.5% today. making it second biggest publicly traded in the united. the market camp exkeyeding mobile by $5 billion. trail appt valuable company. apple up more than 1% today. financing is $40 billion of its own shares over the past year. our first guest said the obama economy is stagnant and the only thing the administration has been growing consistently isic equality. joining us now is congressman tom rice member of the transportation small business infrastructure committee. good to have you with us. your reaction to the state of the question as represented by at least the unemployment rate in today's jobs report.
>> in the comment you made earlier, i can't get out of my line. with slippery slope and bs mountain. of it interesting comment. no, absolutely. the economy is absolutely stagnant. we sit five years after the great recession. we have anemic growth, we have household income from middle income america has declined every year for the last five years. we should have had a snap back from the recession, yet we continue to very, very slow growth. age lot of that is due to the policies coming out of washington. for one thing, the uncertainty, you know. you were talking about the small businesses not hiring. large businesses declining to hire because they don't know the effect of obamacare. we keep putting off the implementation of it, and it creates the uncertainty. president obama changes the law almost every day. there's a new change in the law. lou: i watched a couple of changes coming from the republican party this last few
weeks as well. speaker boehner starts talking about a pathway to citizenship. comprehensive immigration reform. we hear paul ryan embracing amnesty, then this week we learned there will be no immigration plan at all. what in the world is going on with the republican party on capitol hill specifically in your chamber? >> well, i think that speaker boehner may have jumped the gun a little bit. when he announced his objective to the rank and file, i don't think they were very pleased. i personally couldn't vote for anything like the senate plan. if we're going have comprehensive immigration reform. what i would like to see is control the border and a shift to a immigration plan that makes us more competitive. so more like the rest of the world has where your ability to imgrate is based on the hills you -- skills you offer rather than based on family relationship. two-thirds to three quarter of
the immigration is based on family relationship. it's anticompetitive. lou: it's strange. congressman bob good lat the chairman of the committee. i believe the committee staked out the leadership for the republican party on reforming immigration. if you want to use the word reform. at least changing it. a solid plan, incremental approach. rules of regular order. a full hearings people know what the heck is going on. i'm surprised that you didn't embrace what he put forward in committee there. >> well, i was very surprised when the speaker announced his policy, again. i believe it is counter intuitive. if we offer any kind of legal status or pathway to citizenship without our borders being secure. i promise you we'll not only have the 11 million we're dealing with today. we'll have 11 million more five years from now. i don't want to repeat the mistake of the past.
lou: i thinks that sage counsel. and, congressman, as we move forward to the midterm election. are you satisfied that the republicans are in good shape and focused and ready to turn out the voters and -- well, first of all hold the house of representatives but also take the senate? >> i think that people are not happy with -- it's the economy, stupid. as we learn in the last several elections. i was surprised with the outcome of the election because of the economy was so acting so stagnant and acting so poorly. but i think people are very upset. you hear -- you see wall street going at all-time high. it's not effecting main street. and -- lou: i think it is affecting main street. wake we're watching now corporatings earnings is moving ahead. we're not seeing business investment, we're not seeing -- investment in job creation. we are watching the controls of costs and the result is an economy not doing particularly well. but to your point, i will take
your point, it is the economy, and i appreciate it. we have to jump here. we're over time. i appreciate you being with us. >> thank you, sir. thank you for having me. jalen know now looking at his options hosting the final "tonight show." scoring his best ratings in five years. his final show last night ending his 22-year run with this emotional farewell. >> boy, this is the hard part. i want to thank you, the audience. you've folks have been just incredibly loyal. lou: quite a run and congratulations, jay. what is next for him? he's, reviewing his options, as i said. as the saying goes, stay tuned. we are coming right back! president obama said putin's tough guy image is pure chick.
turkish police tonight questioning a reportedly intoxicated ukraine began who allegedly tried to hijack an aircraft and divert it to sochi russia where the olympicses are underway. more than 100 passgers were aboard the arine andit laed safe. >>dsteaxieabo rrorst thetsrssia tay kicng ff the inte olpics with an extravagant opening ceremony for a crowd of some 40,000 people. there was a -- well, a substantial glitch you may notice a ring missing. it's a snow flake that is
supposed to turn to an olympics ring. it failed to open and such things are made opening day disasters. president obama denied an icy relationship with valid mere putin in an preolympics interview. it's part of the style to sit back and look a little bored during joint interview. he clear if id stating, quote, my sense is that's part of his schtick home politically. uy. former pentagonlikt official. do you think he's former kgb as well? >> the president said al-qaeda is kb. and putin has the statute thing. well, the fact of the matter is al-qaeda is bigger and stronger in more places than ever before and putin has outsmarted obama at every step of the way. >> i find it fascinating that he finds him just acting like a
tough guy. he hasn't been paying attention. russia is pretty well slapped him on the international stage. >> in theater after theater. in the middle east, for example, you know, five years ago, eight years ago, the united states was predim on in the big power in the region. we are no longer even matter. syria which was pose -- supposed to be obama's red lynn. he had to be pulled out by the russians. iraq which was supposed to be another. >> edward ♪en. >> the little traitor sitting in russia in the arms putin. who is acting tough, by our president. meanwhile he delivered so many classified secrets to the russiins that it is exreport their. >> yeah. and our intelligence wases is will take a decade to have to recover. not only has snowden revealed that things things things are
embarrassing. we're listening to the phone calls of german leaders. they revealed sources and method. they know how we collect intelligence and act accordingly. lou: russian's deputy prime minister neither he nor the russian government play the role in leeking a call of victoria knewland. blank, blank, it's one blank. blanket -- blank the e u. how they got access and why the officials -- high officials in our state department didn't know that someone had access to that. >> i think, first of all, the reality is the new world there are no longer any private anythingings. a conversation you think is private somebody can hack in to. lou: even if high state department. >> even a high state department it's probably even more reason to listen to your e-mails or what you're doing. there are no --
there are no nothing private anymore unless face to face conversation in a room recently been debugged. now that being said, the russians have outsmarted us. why? it's all about ukraine. there's a tug of war of russia and the u.s. and the phone conversation makes us look like dope. lou: i think we are pretty well establishing our standing in that regard. [laughter] in a host of ways. but the fellow that president obama says is basically just a schtick when he talks about a tough guy is basically certain notice that the russians may intervene in ukraine to pursue their own interest. how serious the threat? what should be the u.s. response? >> i think we should, i mean, ukraine is a country caught between the west and the east in russia. it's a country whicc the leadership -- lou: why the west? >> the people want to go west with they look at poland and the countries and think that could be us. we want to go toward democracy
and capitalist system. what happens is their leadership which is corrupt as could be is more alive with russia. they want the bailout. the bottom line is russia controls the energy that ukraine needs. they can turn the switch on, they can turn the switch off in a cold manner. they have done it before and can do it again. >> and as well, the gas that the european union needs more than ever this winter. kg mac for a lain. thank you. the new york police department going high-tech. the n.y.p.d. reportedly bought a several pairs of google glass beta testing hoping to use them in the field, potentially having the ability to identify suspects in real time. up next mr. obama -- his political guru asking his fellow to stop donating money to hillary clinton's potential 2016
people with low income and withdrawing those subsidizes as income rises. the act creates a disincentive for people to work. relative to what would have been the case in the absence of that act. lou: that acting with being of course, obamacare. damaging testimony adding to the president's political toxicity right now. i hope john stewart was watching, that is the statement that we were reporting, but you stay comfortable there on the bs mountain, mr. stewart. there were -- we're not two but three damaging reports on obamacare this week. and the president's gallop approval rating stands at 40% approval. 51% disapproval. it's gotten so bad the president himself is acknowledging where he is with the american public. he reportedly told a meeting with the senate democratic meeting conference wednesday that he wouldn't be offended if
he's not inviteed to visit vulnerable democrat campaign stop this year. some are already shunning him. the republican need a net gain of six seats to take back the senate. here is what they can do that and the latest polls on each race show. alaska, and incumbent mark leading by just four points. which is truly remarkable at this stage. in arkansas democratic incum be end mark prior is running behind his republican challenger by five points. democratic incumbent mark you deal in colorado leads one by just three points. these are all tight races. in louisiana democratic incumbent mary landrieu trails her republican rival by 4 points. and jeanne shaheen is in a tie
with her likely republican challenger. and that is not where she wants to be, obviously, in north carolina. democratic incumbent trailing her republican challenger by seven points. as you can tell, this is a very serious moment for the democrats. in montana, the open seat, the republican there is ahead by 14-points. 14! how worried are the democrats? well, mr. obama's cons already are so worried that democrats are spending their money on hillary clinton's presidential hopes he's tweeting. here's what he had to say. with the senate seriously at risk, as you see here, and the brothers spending preaddition usely of course, shouldn't they be focused on 14 and not 16 races. it's interesting it's a question i often and the republicans. the midterm elections are now
269 days away. 269. and things are getting real serious and interesting. we'll be talking with the ateam doug about the clinton race. the urgency for both parties in the midterms next. time for some of your comments. we're giving a copy of my new book to everyone who e-mailed, tweet, or facebook post read on the show. here are the winners. john wrote in to say right on target with the view on government and president obama's unilateral actions. john e-mailed us saying since our president seems to believe he can do anything he wishes. it's time to change his tight from commander in chief to narcissist in chief. and george on facebook posted i would suggest instead of giving bonuses to the workers. the irs should reimburse the hundreds of thousand of dollars spent by conservative groups trying to get their applications approved. an interesting idea. we like to hear from you. e-mail me at lou dobbs.com.
follow us on twitter. go to our facebook page. and links to all found loudobbs.com. clint eastwood being held as a hero. the 83-year-old actor/director performing the heimlich maneuver wednesday night at pebble beachpro a.m. turn. he's credited with saving the life of tournament director. steve john. made our day, clint. we're coming back. a teen avoid hard time for killing four people. his defense? too rich to know right and wrong. attorneys doug burns and spencer on the aflew when disa evented.
let me start with you. david tweeting he's concerned about all of that money that democratic money going to hillary clinton instead of the senate democrats. they're really scared right now, aren't they? >> i think his comment highlight what a lot of democrats have been saying and republicans, too. this is a tough year for democrats to hold on to the senate. as you mentioned earlier in the show, republicans need six seats to gain the majority. and there way to do that is through state the president lost by wide margin in 2012 and the previous election year, too. so axle rod, i think and other democrats who have expressed similar sentiment are worried looking at the president has left to do. they know, of course, that the republican-lead senate would be a major devastation to the president's second term agenda. lou: his agenda, for the second term, i think, keilin --
doug, you tell me. i think it's pretty well done anyway. i think he's a lame duck. >> i don't see what is left of the agenda. i'm not going get immigration reform. i don't see any bold program to promote economic growth. bottom line, lou, as i sit and look, i sort of say there's not much there to the extend i look overseas and tour the world, iran, north korea, ukraine. it's pretty -- and sir we have a robust foreign policy. >> a robust foreign policy. we watched this administration change direction on ukraine twice in the last three weeks. right now ukraine popular demonstrations and support of moving to the west in to the european union. this government initially -- this administration embracing russia and its hold on ukraine.
now russian president valid mere putin threatening to intervene. your thoughts? >> my thoughts are that we have no policy. that when you have your assistant secretary of state attacking with expletive the eu rather than talking about a strategy to confront the russian and unite the opposition. we're getting involve in internal ukraine began politic to the exclusion of defending our interest. lou, i'm troubled beyond belief. lou: and kaitlyn, also watching all of these reports come out on obamacare whether it be the national small business administration reports showing the small businesses health care cost have risen and doubled over the course of the last four or five years. the business school study showing that business owners are cutting back on full-time employment. staying with part-timers rather than bring on new jobs because
of obamacare. and of course, the congressional budget office studyist shows it's disincentive to work. what is the -- what is the reaction? what should be the reaction of this white house? >> well, the white house and democrat own capitol hill are saying that, you know, it not a cut -- it's not employers cutting workers. it's workers choosing not to continue to work nation can get their health care elsewhere. democrats say this will inspire people to innovate and maybe, you know, create businesses. but the problem -- >> there's so much confusion here being -- whether because of the talking point or not, it is pure -- to suggest these are quote, unquote job equivalent city. there is know qvc lentis to a job. it is a job. it is work. secondly, it is a disincent statton as douglas elm door of said. the idea there's any positive in
this that overwhelms the reality of 2.3 to 2.5 million jobs or the equivalence and everyone think about that, if you will. the equivalent of a job being a loss to a productive economy with that interjection. i'm sorry. go ahead. >> i was going say the problem is, you know, that we're seeing headlines and going see a lot of this play out in the 2014 election that we just talked about. you know, pointing to what you just described. so if you're a democrat running for re-election in 2014, this only, you know, adds to those kinds of issues they have to deal with. but also, you know, going out and really selling the law. it's really difficult for some of these democrats to campaign on it. i don't think we'll see a lot of that. lou: i don't think like they rejoinder for the republican challengers or opponents. doug, when they spooned to whatever the democrat is saying, is that the president of the
united states lied to the american people before -- to get it through. and secondly, being reejected -- elected. now they want to educate americans on a law they didn't bother to five years ago. >> a law, lou, by and large the american people don't like and contrary to what the administration said. the more experience we have with it, the less people like that. bottom line, i think we're sitting on "the washington post analysis saying there's slightly better than a 50% chance that it democrat lose the senate. we keep going in the direction, lou, it could get worse and there could be more than six seats in play. >> and to what degree is the margin important if, indeed, the republicans take control of the senate. does two or three seats matter that much? >> it does because if it is one seat, then one or two defection to give the president. if not a real majority he would
presumably lose it. >> thank you for being here. the camera company behind all of those great viral extreme sports videos it planning to go public. go pro announcing today a file considerable ipo. that allow it is to keep the financial information private until just weekses before it stock is available for public trade. up next the market soaring over a mediocre jobs report. s&p joins us make sense and give us a clear view of our future. in the markets. a brand new analysis show how big a bargain your iphone really is. get ready for this.
joining us now toises the jan jobs report. the market reaction. sam, great to see you. the market is underway. my goodnesses, double, ridge gains here? one right after another. happy days. ee ha! i think, well, i think the reason stocks p, bonds went up, and gold went up is because people are thinking that maybe the economy is a little weaker than we expected and as a result maybe the fed will be tampering the tampering.
lou: what we're giving up here? think about how many -- how many hundreds of billions of dollars we're giving up for a lousy 10 or 20 billion a month from the fed. i mean, that's just mind numbing to me that investors think that way. of course they do. >> sure. >> well, the fed -- our chief economist sort of equated qe3 as one of the family member over the holiday who doesn't leave. and the fed wants to get qe3 out of the way. and they're going do it, if the data support enough they can, you know, in the sense remove all of that stimulus. lou: we have this unemployment report. 6.6%. this is powerful stuff. except it is -- it's not really. it's still pointing to a half speed recovery. still pointing to gdp growth and might be around 3% for all of 2014. there were some encouraging signs that broadest measure of
unemployment, underemployment, and disgruntled workers actually fell. lou: six. >> i love to say that. don't -- i think you're insulting me. >> never! >> but the idea this is representative of good news we did see a boost in manufacturing. >> we did see a reduction in government employment. we did see, i mean, you know, there is positive stuff in there. my god you have to look so hard for it. and resist the overall number which is the last few months have been a very bad couple of months. and i think also people who felt they could be blaming these named winter storms for most of the problems. but the bureau of labor statistics said no you can't do that this time around. maybe last month but not this month.
i think maybe -- the reason they were doing the survey duh during the one week there happened to be a monumental blizzard. >> it's not a snow job, i guess glue at least not in that respect. >> i think people will be waiting for the next months' number. other economic data point like retail sales next week. industrial production to see whether we get a conformation from the employment data or whether -- no, actually the economy is improving. we just -- are seeing it in fit and starts. >> it is much better economy than it was. except in one respect. at least one respect. that is we are seeing fewer jobs being created each month over the past three months. we're down from over 200,000 a month the previous three months to this last period. what are we going wait on here for validation of the idea this market is going move ainstead i want to ask you to define it as a bull market, a fair market.
what is the likely trajectory. what will tell us what we need to know? >> well, i think it is a bull market. i think that for all of 2014, we will probably see prices up in the mid single dings similar to what we expect to see in earnings growth. last year we got the euphoria, the expectations maybe we'll see an improvement in gdp and earnings, and so we saw the evaluation measure. the pe ratio climb last year. well, this year is a showing year. okay you went up on anticipation now prove it. that was worth going up. so our belief is it is a volatile year most likely where we could see the decline even worse than what we already saw. but by the end, by the tend will probably be up. lou: all right. we'll take that, and hang along with everybody else. >> that's right. >> sam, thank you very much. the iphone turns out to be quite a bargain.
no matter what you paid for it. listen to this, a new analysis by tech policy daily did a projection after triple analysis and finds because of the advanced technology the iphone would have caused three and a half million dollars to produce back in 1991. that is the level 77 sophistication in the iphone. up next he drove drunk. he killed four people. injured two others. but he's not going jail. leading attorneys on the law on the two -- too rich to know better defense. next. liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order.
injured two others in a drunken driving accident in texas last year. now after two trials and a much debated "affluenza" the flat until defense, he will not spend a day behind bars. former federal prosecutor doug burns is here with us and remi spencer. this is outrageous on any level. >> you don't need to be a lawyer to understand that this case is tragic and the outcome is incomprehensible. a couple of points that most viewers probably don't realize is that this is a juvenile and not an adult in the system works differently for juveniles. it is about rehabilitation as opposed to punishment. the headlines here have been
about the "affluenza" defense. but there has been much of a case than that. keep in mind this is a record standard and not intentional. >> the "affluenza" defense, others have set up a meeting. on the psychiatric point of view and then it is junk law. it's never going to be any kind of recognize defense. and she is right. the fact of the matter is that slightly skewed. >> a judge who made a bad decision. the but forget this, it's stupid. and i personally prefer this direct plainspoken language. the idea that this dickstein-year-old that age, he had a drivers license, does not? >> that is correct, he did. >> has been accepted by one standard into a highly was
optimal position to which he should be held responsible. >> i agree. lou: does the law not make sense to such equations? >> if you're an adult to make sense and he would be based on prison time. >> keep in mind you can get behind the wheel. but he did not intend to harm other people. the recklessness of his behavior negated incarceration. >> but that is too far. lou: the recklessness becomes a defense for irresponsible behavior? and i think the viewers want to understand how the recklessness which is a bore and of itself, is a defense? >> it's not a defense but a mitigating factor as opposed to
a juvenile who would take his car using it as a weapon purposely. >> i'm sorry to interrupt. it's more about a juvenile versus an adult. i can deal with that distinction. but if you run down a bunch of people, it is vehicular homicide. lou: let's turn to another case that has garnered a lot of attention. that is a judge refusing to set bail for the retired tampa police officer who got gunned down -- he gunned down a man in a movie theater because he threw popcorn. what in the world? >> bail is supposed to be whether or not you're going to appear in court. but they are taking into account how strong the proof is. they teach you the first week in criminal law, the response has to be commensurate with the force of your presented with. this is going to be unfortunate.
this guy has no chance of winning. lou: in a recorded interview to get to what doug is talking about, he told the authorities that as soon as i pull the trigger i said oh, shoot. and what in the world? >> it is a very strong case for the prosecution. that is a statement that the defendant made to the police immediately after the incident. his wife even rebuts his contention that he was hit by the victim which prompted the shooting and he is going to take a very large plea deal or go to trial those. lou: he cannot serve time.
>> first and foremost, someone is listening in. they are being monitored for safety concerns including provisions for number of considerations. >> when the prosecutors can prove that someone killed someone, often they are like we are going to show that he did this in a coded conversation. lou: using code to communicate with those folks, it seems kind of we. >> the judge invited the prosecutors to come back at a later date. lou: we have a few seconds. you believe the prosecutors have a strong case. >> this is not as much of a slam dunk slamdunk as the prosecutors would like you to be.
♪ ♪ ♪ neil: your lucky stars that we haven't been hit since 9/11. what if we are to have been hit again? i'm talking about san jose. it was darn near destroyed. welcome, everyone, it is coming to light that the most significant incident of domestic terrorism involving the grid that has ever occurred in the united states. and i am quoting directly the man who headed the federal energy regulatory commission saying that.